Keybot the Quant remains short. Bulls are flexing their muscles but it is just a bunch of posing so far. Banks jump into the bull camp so that provides the upside juice. XLF is above 29.09; bears need it back below as soon as possible.
RTH remains bearish and VIX is over 31 for most of the morning; 30.37 now. The bull move is not impressive but the day is young.
Meanwhile, bears stealthily slap copper in the face and roll it in the alley. Bears need CPER below 21.72 and price is only pennies away at 21.84. This is about a -0.6% drop in copper futures and the latest print is down -0.3%. Copper weakened after this morning's message. If copper fails, stocks will be in trouble.
The SPX rallies 43 points but the internals are not agreeing with the joy so far. Bulls begin verifying the rally if RTH moves above 157.65.
2/7/21; 7:00 PM EST =
2/5/21;
9:00 AM EST =
2/1/21;
9:36 AM EST = +22; signal line is +41
1/31/21;
7:00 PM EST EOM = +6; signal line is +43
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